Financial PerformanceMeituan's revenue reached RMB86.6bn, up 18.1% year-over-year, with adjusted net profit up 46.2% year-over-year, mainly due to better margin for the local commerce sector and efficient operating expense control.
Growth StrategyMeituan recently announced its entry into Brazil’s food delivery market, with plans to invest US$1bn over the next five years, viewing Brazil as a suitable market.
Market PositionMeituan operates an extensive fulfillment network of approximately 7.5 million riders and over 9 million active merchants, contributing to its leading position in the online food delivery market.